Financial Advice for Seniors — Managing, Protecting and Passing On What You Have Built
Japhia provides financial advice to older Australians covering retirement income planning, Age Pension optimisation, aged care financial planning, estate planning coordination and superannuation pension phase management. We are an authorised representative of Madison Financial Group (AFSL No. 246679), regulated by ASIC.
The financial decisions that matter most for seniors are fundamentally different from those at every other life stage. This is no longer about building wealth. It is about drawing from it sustainably, protecting what is there, making informed decisions about aged care before the need becomes urgent, and ensuring the estate plan reflects the current asset structure. These decisions require financial advice that understands where you are in life, not advice designed for someone three decades younger and applied with minor adjustments.
Japhia provides independent financial advice to seniors and pre-retirees across Sydney. Whether you are thinking about retirement for the first time, recently retired and managing income from superannuation, or navigating aged care arrangements for yourself or a family member, we provide personalised financial advice built around your specific situation and delivered by the same adviser at every stage.
How Financial Advice Changes After 60
The shift in financial priorities after 60 is real and it changes what good advice looks like. In accumulation, the goal is to build superannuation and investment assets. In retirement, the goal is to draw from them in a way that produces reliable income, minimises tax and does not deplete the capital prematurely. Risk tolerance typically changes. The tax treatment of income changes. The Age Pension enters the picture in a way it has not before. And the decisions that seemed distant, aged care, estate planning, enduring power of attorney, become immediate.
The specific decisions that cluster around 60 to 70 carry long-lasting consequences. When to convert superannuation to pension phase and how to time that relative to other income affects how much tax is paid across the retirement. How to structure drawdown across different asset types, superannuation, investment income and property, affects both the tax position and the interaction with Centrelink payments and Age Pension entitlements. Whether to downsize the family home and when, and what the impact on the assets test would be, is a decision that requires modelling your specific position rather than a general rule of thumb.
Many seniors who come to Japhia have not previously had financial advice, or have had advice from a bank-aligned planner that was product-focused rather than personalised. Getting independent financial advice from a financial adviser with no commissions, at this stage of life, tends to produce decisions that are better calibrated to the actual financial position rather than to what a product range makes available.
Our Financial Planning Services for Seniors
Retirement Income Planning
Retirement income planning determines how much can be drawn from superannuation and investment assets each year without depleting capital prematurely across a retirement that may span 25 to 30 years. This is not a single calculation. It requires modelling account-based pension structures, assessing the tax treatment of different income sources, accounting for inflation over time, and adjusting as the balance and expenditure change across the phases of retirement.
We build retirement income strategies that provide reliable income in the early active years of retirement, maintain capital for the later years when aged care costs may increase, and account for the interaction between drawdown strategy and Centrelink payments. Retirement income planning is most valuable when it begins before retirement rather than at the point of stopping work, because the decisions made in the final years of working life directly affect the income position for the decades that follow.
Age Pension and Centrelink Advice
Age Pension eligibility depends on both an income test and an assets test administered by Services Australia. Many seniors who assume they will not qualify are wrong, and the difference between receiving a part Age Pension and none at all can be significant over a 20-year retirement. The interaction between superannuation, investment assets and the means test is not straightforward, and small changes in how assets are held or drawn down can have meaningful effects on entitlements.
We assess Age Pension eligibility under current Services Australia rules, model the impact of different asset structures on the income and assets test, and advise on drawdown timing and asset positioning that maximises entitlements where appropriate. For seniors approaching the Age Pension age who have not had their eligibility properly assessed, this conversation alone can materially improve the retirement income position.
Estate Planning Coordination
Estate planning for seniors involves more than a will. Beneficiary nominations on superannuation and investment accounts, superannuation death benefit directions and their tax implications for beneficiaries, testamentary trust structures, and the enduring power of attorney arrangements that govern financial affairs if capacity is lost, all require decisions that connect financial advice and legal advice.
We provide the financial planning dimension of estate planning and coordinate with your solicitor on the legal documentation. We ensure that the financial plan and the estate plan reflect each other rather than being managed as separate exercises that have never been reviewed together. For seniors whose assets have changed significantly since their estate documents were last updated, this review is one of the most practical steps available.
Superannuation Pension Phase Management
For clients already drawing from superannuation in pension phase, the ongoing management of the investment strategy, pension payment level and compliance obligations matters as the balance changes and life stage evolves. An investment strategy set at the start of retirement may not remain appropriate ten years into it. Drawdown levels that made sense at 65 may need revision at 75.
We review pension phase superannuation annually as part of an ongoing advice engagement, assess whether the investment allocation remains appropriate for the balance and the remaining timeline, and recommend adjustments as circumstances change. This is not a set-and-forget arrangement. It is ongoing financial advice that keeps the strategy current.
The Questions Seniors Ask Us Most
Most first meetings with senior clients begin with a version of the same four questions, and they are worth addressing directly.
1. Do I have enough?
The answer depends on your expected annual spending, how long you expect to live, what income the Age Pension will provide, and what your assets are likely to produce. There is no reliable answer without modelling the actual numbers against the actual position. Most clients who ask this question have not had it answered properly before, because the answer requires a financial adviser to work through the specifics rather than apply a benchmark.
2. How long will my money last?
This depends on the drawdown rate, the investment returns across the retirement, the tax position on different income sources and the effect of inflation over time. The interaction between all four is why this question is not answerable with a simple calculator. We model it specifically for your position.
3. Should I downsize?
Downsizing has financial implications beyond the obvious. The sale of the family home may affect the Age Pension means test, depending on how the proceeds are held and whether the downsizer contribution to superannuation is used. We model the full financial impact before recommending a direction.
4. Will I get the Age Pension?
Eligibility depends on both the income and assets test at the time of application, and it changes as assets are drawn down. Many seniors who would not have qualified at 67 become eligible for a part Age Pension later in retirement as the superannuation balance reduces. Assessing eligibility at regular points across retirement, not just once at the start, is part of how we approach this.
Who WE HELP
Recently retired Australians managing a superannuation pension and investment income for the first time without a salary, and wanting that managed deliberately rather than by default.
Pre-retirees in the final three to five years of working life who want a clear picture of what the financial position looks like at the point they stop working, including Age Pension eligibility and retirement income modelling.
Seniors navigating aged care arrangements for themselves or a family member and needing to understand the financial implications before decisions are made.
Widows and widowers managing a financial position they previously shared, often for the first time, and wanting independent financial advice rather than a product-led conversation.
Seniors who have received financial advice from a bank-aligned planner and want independent, fee-for-service advice with no commissions from any product provider.
How We Work
Understand
We start by learning your current financial position, retirement income, assets, superannuation arrangements and any specific concerns or decisions you are facing. Nothing is assumed. We speak to you directly, not through a form.
Analyse
We assess your superannuation pension structure, investment income, Age Pension eligibility, aged care position if relevant, and estate planning arrangements. We identify where the strategy is not optimal and what decisions would improve the position.
Present
We walk you through our recommendations clearly. The retirement income strategy we propose, the Age Pension assessment, any aged care or estate planning considerations, and the expected impact of each recommendation on your financial position. Everything is explained in plain terms.
Implement and Review:
We put the strategy into action once you decide to proceed. With an ongoing engagement, we review annually and remain accessible when a financial matter arises, whether it relates to Centrelink, aged care, the estate or the investment position.
An initial consultation with Japhia takes approximately 30 minutes. We will assess your current position and discuss where professional financial advice can make the most meaningful difference. Appointments are available in person at our North Sydney office or via video call. Japhia is based at Level 24, 100 Miller Street, North Sydney, NSW 2060.
Adviser Profile
Meet Nicholas Wong – principal, japhia wealth advisory
Nicholas Wong is an authorised representative of Madison Financial Group (AFSL No. 246679). Nicholas has spent over 25 years working in the finance industry, with experience across financial planning, tax, superannuation and personal insurance. His goal is to provide well-considered, personalised wealth management advice that helps you grow, manage and protect your wealth over the long term.
Nicholas has extensive qualifications in finance and tax and has advised clients ranging from individuals to business owners. His clients value his ability to explain investment, superannuation, retirement planning and insurance options in simple terms and to give them a clear and actionable plan to achieve their financial goals. He is based at Level 24, 100 Miller Street, North Sydney.
Academic Qualifications:
Bachelor of Economics (University of Sydney)
Master of Applied Finance and Investments (FINSIA)
Master of Taxation (University of Sydney Faculty of Law)
Master of Financial Planning (Kaplan Professional)
Professional Qualifications:
Member of Chartered Accountants Australia and New Zealand
Member of the Chartered Institute of Securities and Investment (CISI)
Qualified Tax Relevant Provider as registered by Australian Securities and Investments Commission (ASIC)
Common Questions About Financial Advice for Seniors
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No. Financial advice for seniors in retirement addresses decisions that are ongoing, not just decisions made at the point of retirement. How the superannuation pension is invested, how income is drawn across different assets, when Age Pension eligibility is assessed, and how estate planning arrangements are structured are all decisions that remain relevant throughout retirement and can be improved at any point.
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Your superannuation balance counts as an asset under the Centrelink assets test, and the deemed income from your superannuation counts under the income test. Both tests apply, and the one that produces the lower pension payment is the one Centrelink uses. As your superannuation balance reduces through drawdown, your Age Pension entitlement may increase. We model this interaction specifically rather than applying a general answer.
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Aged care financial planning covers the financial implications of transitioning into residential aged care, including the means-tested care fee, the accommodation deposit options and how your assets are assessed under the aged care fee framework. The time to think about it is before the need becomes immediate, because the decisions available to you are significantly better when there is time to evaluate them than when a placement is required urgently.
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Superannuation does not automatically form part of your estate. It is distributed according to your binding death benefit nomination or, if there is none, at the trustee's discretion. The tax treatment of a superannuation death benefit depends on who receives it and in what form. Getting this right requires a current, valid beneficiary nomination that reflects your actual wishes and your current family and financial situation. We review this as part of estate planning coordination.
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We provide the financial planning dimension of estate planning, including beneficiary nominations, death benefit directions and the investment implications of different estate structures. The legal documentation is prepared by your solicitor. We coordinate with your solicitor directly to ensure the financial plan and the legal documents are consistent with each other rather than managed as two separate exercises that have never been compared.
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Downsizing has financial implications that vary significantly depending on your Age Pension position, how the sale proceeds are structured, and whether you use the downsizer contribution to superannuation. The family home is currently exempt from the assets test, but proceeds from a sale are not. We model the full financial impact of downsizing for your specific position before recommending a direction, including the effect on Age Pension entitlements and the retirement income position.
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The first meeting is approximately 30 minutes and is free of charge. We take the time to understand your current financial position, retirement income, superannuation arrangements and any specific questions or decisions you are facing. You ask us anything about how we work and what advice with Japhia would cost. There is no paperwork and no obligation until you decide to proceed.
Ready to Get Financial Advice as a Senior in Sydney?
Your first conversation with Japhia is free. We will take the time to understand your financial situation, answer your questions directly, and explain clearly what professional advice would involve and what difference it would make. No obligation. No sales pitch.
Japhia Wealth Advisory
24/100 Miller Street North Sydney NSW 2060
+61 2 7202 8382
AFSL: 246679
GENERAL ADVICE WARNING: This information is of a general nature only and neither represents nor is intended to be specific advice on any particular matter. Madison Financial Group Pty Ltd strongly suggests that no person should act specifically on the basis of the information contained herein but should seek appropriate professional advice based upon their own personal circumstances.